What is inventory performance monitoring? Why is it so important? How does it affect business work flow? As a successful leader, you need to understand the basics of performance measurement. This is crucial and applies to all businesses. Setup the appropriate analytics and monitoring systems. What information do you retrieve from your financial statements? Be surprised with the amount of information hidden. One proviso is that your Chart of Accounts is setup correctly. Inventory performance monitoring includes the monitoring of price. This can be for product or services. Use the ChangeBoard to see how a 1% increase in price can change your Profit.
27Nov
SM5.0 Theory of Constraint (TOC) Find Remove Bottleneck
The Theory of Constraints (TOC) is an important optimising technique that focuses on improving the throughput of work at the (usually) single bottleneck or constraint in the workflow. This Skills Module draws together a number of the 12Faces articles on the subject. One research project demonstrated that 89% of improvement...